New India Assurance eyes 100% growth in online policy sales

New India Assurance Co is looking to achieve 100% growth in online sales which stood at Rs 150 crore last year. “We are selling 30,000 policies every month online. Currently, our online sales are clipping at 15-20% which I expect to clock more than 100% growth now,” Srinivasan said.

Among the private sector general insurers, the market leader ICICI Lombard said it has no plan to offer any additional discount to online customers as already it sells three to four products online. “We are already selling three to four retail products through our customer portal, known as E-Channel. We provide small discount for online sales. Despite so many products only 5 % of our sales are online,” ICICI Lombard’s Sanjay Datta said.